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BIGGEST RISK with Angad Guglani

Commercial Real Estate Pro Network

Release Date: 12/24/2019

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Oh, I know that's an easy answer, though, because almost I had some real estate, but the majority of my net worth was in the stock market. And I know and you're it's it's all about hope. It really is. I need Trump tweets. It goes up. Tweets again. It goes down. You know, we can have a company can have the best earnings ever and their stock goes down.

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people ask me about this in terms of real estate, what's going to happen with the economy, as you know, with political elections, what is it going to go up or down a recession or continue in this?

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Wow, I'm so glad you shared that because I settled three lawsuits. You know, just in the last quarter of 2019. So it's very fresh in my mind. And actually, one lawsuit was going on for about two and a half years. Nothing major, but it was major in the sense that something happened with one of my contractors on one of my property. And I'm so glad that I have had full coverage, you know. And they said you settle the issue for almost like seven hundred some thousand dollars. And I didn't have to pay a penny. 

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I think the BIGGEST RISK in what I do, multi-family investing, is making sure that the deal the way that you buy it. Because like honestly, the way you buy it means everything. I mean, if you don't buy it, right. Sorry, sucker. You know, whether whatever whether it's you know, you're not operating it right? 

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The BIGGEST RISK, so I'm going to stay on topic for this one and I'll speak to the biggest risk for business owners and agents, right. In general, especially for the, I would say the veteran agent, the more mature agent and older agent.  

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Darrin:  I'd like to ask you on Angad Guglani, what is the BIGGEST RISK? 

Angad:So I had a few ideas on this, like we talked about Darrin, but you probably gave me a really good story. You did give me a very good real life story and somewhat shaped my thinking. And I would say the biggest risk being very concentrated in one market and one to expand will be concentrated in the other markets. Right? Well, we'll have heavy concentration in a handful of markets. Is something systemic like a major flood or ice storm like that was the example you gave. And something like that where, you know, I don't frankly, I don't read the policies as well as I should. We have a master insurance policy, and I'm sure there's some sort of cataclysmic event that might happen that probably voids the policies. And if that were to happen, that would be very dangerous. Number one. Number two, or, you know, like you said, if you have a major, you know, act of God event and your policy doesn't pay out and you have fixed expenses like mortgage and taxes and stuff and you fall behind on those, that's another big expense. Big risk. So, yeah, basically anything that comes of concentration, I would say is this is the BIGGEST RISK.